due to my disagreement with the currency, monetary and credit policies conducted by the central bank board which leads to the destabilisation of the
hryvnia,' Savchenko told journalists, confirming an earlier report.
However, rents accounted for 87.8% of the painting and the failure to comply was explained by several factors: due to the enrollment of overpayment of PJSC "Ukrgasvydobuvannya", which as of 01.01.2019 amounted to UAH 0.8 billion due to tax liabilities of the current year; a decrease in the average customs value of imported natural gas in January-June (which is the actual cost of selling the produced natural gas); a stronger
hryvnia exchange rate against the US dollar (the average exchange rate in the first half of the year was UAH 26.9 per US dollar, with the average exchange rate of USD 28.2 taken into account in the 2019 budget); reducing the price of natural gas to provide domestic consumers and producers of thermal energy to UAH 5964.3 per 1,000 cubic meters.
third, the revaluation of financial instruments (due to changes in their market value and changes in the exchange rate of the
hryvnia against foreign currencies).
Reportedly, during the April 2 auction on one of the tenders of Ukrzaliznytsia for supply of 10,000 tons of diesel fuel, SOCAR Ukraine mistakenly offered 28.2 million
hryvnia (more than $1.08 million) instead of the estimated 282 million
hryvnia (more than $10.81 million).
The bank controls the
hryvnia's exchange rate by buying and selling foreign currency on the interbank market.
In the first half of this year, the personal income tax, which holds the dominant position in the structure of local budget revenues, was received in the amount of more than UAH 1.7 billion more by UAH 283.3 million (19.6%) compared to the same period in 2018- th The single tax received 349.6 million
hryvnia an increase of 56.9 million.
So far, the effect of the tighter monetary policy has mainly been transmitted through the exchange rate channel, prompting the
hryvnia to strengthen since late January 2018.
It said that the move was prompted by increased stability of the
hryvnia.
With around 12.2 Ukrainian
hryvnia to pounds 1, a pint works out at pounds 1.64, bottled lager is pounds 1.07 and a burger, fries and cola just pounds 2.70.
BANKING AND CREDIT NEWS-25 May 2010-EBRD hopes to get nod for placing
hryvnia bonds by end-2010(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
The notes are denominated in Ukrainian
hryvnia, but both the coupon payments and principal repayment are settled in US dollars at the prevailing UAH-USD exchange rate.
The move comes as inflation risks have dropped and the
hryvnia is strengthening.
